Peruvian shrimp production has grown only marginally year-on-year, as areas where companies are allowed to farm remain limited due to environment and sustainability rules, Peruvian sources told Undercurrent News.
In neighboring Ecuador, several shrimp producers are increasing production, as demand for shrimp has risen sharply, particularly from China.
Peruvian shrimp exports between January and September totalled about 14,000 metric tons, which compares with 15,500t between January-December 2015, one informed source told Undercurrent.
At the end of the year, total shrimp exports could total production could total about 16,000t. So it is a little higher than on 2015 but not significantly higher, the source said.
Peruvian shrimp exports were up 3.6% by value for the first nine months of 2016, the country’s export association told Peru’s El Comercio.
The group, known by its Spanish initials ADEX, said that exports, the chief market for which is the US, reached $115.8 million during the period.
That uptick in exports comes despite the fact the US exports decreased slightly during the period, a 5.5% drop, bringing the total to $66.5m.
Production has increased because of efficiency improvement, particularly driven by technological upgrades, aeration as well as on food and probiotics, according to sources.
Shrimp production in Peru is concentrated in northern Peru. Camposol, Peru’s top shrimp exporter, earlier this year has invested heavily in perfecting its intensive shrimp farms and is undertaking a major expansion.
Camposol reported Q3 record earnings before interest, tax and depreciation of $24.8m, a 71.9% increase on a year ago, partly as it ramped up output from intensive shrimp farms.
The company’s shrimp farming business has been more profitable this year.